One important lubricant to the active deal market has been increased debt multiples. Over the least 4 years, multiples have expanded a total of .6 or 17% in total, from 3.6 times EBITDA to 4.2 times EBITDA. As interest rates rise and the economy booms, further debt multiple increases are likely to moderate. However, the overall level of debt attainable relative to EBITDA is quite strong by historical standards.